Kerry Group reports €3.5bn revenue as profit rises despite cautious global consumer sentiment

Kerry Group lifted revenue and profits in the first half of 2025, supported by innovation, margin gains, and Americas-led growth

Revenue edged 1.5% higher at Kerry Group to €3.5bn in the first half of 2025, the company said on Wednesday, despite cautious consumer behaviour amid geopolitical global uncertainty. 

Revenue edged 1.5% higher at Kerry Group to €3.5bn in the first half of 2025, the company said on Wednesday, despite cautious consumer behaviour amid geopolitical global uncertainty. 

After-tax profits rose to €303.1m for the period up from €291.5m in the equivalent period in 2024. 

“The first half of the year reflected a good performance particularly given market conditions, where we delivered volume growth and strong margin expansion, driving constant currency EPS (earnings per share) growth of 9.8%," said chief executive Edmond Scanlon. 

"Volume growth was led by a strong performance in the Americas, with Europe in line with expectations, and growth in APMEA (Asia-Pacific, Middle East and Africa) reflective of variable market dynamics."

The report noted the demand environment across food and beverage markets remained "soft" through the period, "reflective of cautious consumer behaviour, given the level of macroeconomic and geopolitical uncertainty across different geographies".

European revenues stood at €731m. Performance in the region was driven by growth in the company's food service through seasonal and new launch activity with quick service restaurants, while performance in the retail channel reflected continued soft market dynamics.

Within beverage, good growth was achieved in nutritional beverages with Kerry’s integrated taste technologies and proactive health ingredients. Growth in Bakery was led by texture systems, with performance in meals reflecting softer overall market dynamics.

Business developments in the period included strong progress in the development of the new Biotechnology Innovation Centre in Leipzig, Germany, enzyme capacity expansion in Cork, and the expansion of Kerry’s cocoa taste capabilities in Grasse, France.

Business volumes in emerging markets increased by 5.6% in the period, led by a strong performance in Southeast Asia and Latin America.

"We continued to strategically develop our business, including expanding our capacity within APMEA and LATAM (Latin America), and further investing in our taste and bio-fermentation technology capabilities across the business," said Mr Scanlon.

"Looking to the remainder of the year, while recognising a heightened level of market uncertainty, we remain well positioned for volume growth and strong margin expansion, as we continue to support our customers as an innovation and renovation partner.”

The board declared an interim dividend of 42.0 cent per share, compared to the prior year interim dividend of 38.1 cent.

Looking to the remainder of the year, the report said Kerry remains well positioned for volume growth despite "a heightened level of market uncertainty".

Kerry expects volume growth for the full year to be similar to the first half, with margin expansion in the second half ahead of expectations, and maintains its constant currency adjusted earnings per share guidance of 7% to 11% growth in the full year.

The board also noted the intention of Gerry Behan will retire from his position as an executive director at the end of December. "On behalf of the Board, I would like to extend our gratitude to Gerry for his exceptional contribution to the growth and development of Kerry across a long and distinguished career since joining in 1986, and we wish him the very best for the future," said chair Tom Moran.